Michael Pento: Stock Market Will "Implode" This Year

The stock market is more overvalued than it has ever been, says portfolio manager Michael Pento. He sees a crash later this year and says the Federal Reserve will have not be able to stop it.

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Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies. Prior to starting Pento Portfolio Strategies he served as a senior economist and VP of the managed products division of another well known financial firm. Michael has also created ETFs and UITs that were sold throughout Wall Street. Earlier in his career, he worked on the floor of the NYSE. He is the author of The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market.